Polygon Labs founder Sandeep Nailwal says Polygon’s (MATIC) upcoming improve will remodel its native asset right into a “third-generation token.”
The Polygon group is presently mulling a technical proposal that will improve the undertaking’s native MATIC token and rename it to POL.
The proposal is a part of the community’s transition to Polygon 2.0, which goals to determine the undertaking because the “worth layer of the web.”
Explains Nailwal on the social media platform X,
“POL delivers the advantages of multi-chain staking with out the added dangers of restaking. With the Polygon 2.0 proposal, the Polygon Ecosystem will broaden from a single chain to an ecosystem of L2s (layer-2s) that may simply interoperate and share liquidity with one another.”
Nailwal says customers will be capable to re-stake the POL token to validate any variety of chains on the community, an enchancment he calls “enshrined staking.”
“POL is an innovation on restaking in two dimensions:
1) Enshrined restaking totally avoids reliance on trusted third events, creating fewer vectors of centralization
2) POL can be utilized for extra than simply securing chains; it may additionally safe Agg (aggregation) layer, DACs (decentralized autonomous companies), and extra
POL is designed from the bottom as much as be the primary hyperproductive token — a 3rd technology in token design.
- Technology 1: BTC (no method for the holder to take part in securing the community)
- Technology 2: ETH (holders can stake to safe the community)
- Technology 3: POL (holders can safe a number of networks and might play a number of roles)”
POL and MATIC is not going to co-exist if the proposed technical improve will get accepted and applied. MATIC holders could have their tokens upgraded at a 1:1 ratio.
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